"I consulted only myself and my wife before taking the decision to resign. After the submarine mishap, I was firm that I should take the responsibility for it," he said in his internal message to senior officers of the Navy.
Taking "moral responsibility", Joshi submitted his resignation yesterday, hours after fire and smoke on submarine INS Sindhuratna in which two officers died and seven sailors were taken seriously ill.
In his resignation letter, Joshi said though the government continued to repose faith is his capabilities, it was becoming untenable for him to continue as the head of the maritime force in terms of accountability.
Joshi, who became the first chief of the Navy to resign over accidents, had about 15 months more left in service.
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After the Navy was hit by the 10th mishap yesterday involving its warships in the last seven months, a concerned Defence Ministry had sought a detailed report from the force.
Joshi served in a variety of Command, Staff and Instructional appointments during his 41-year career including the captainship of guided missile corvette INS Kuthar, guided missile destroyer INS Ranvir and the aircraft carrier INS Viraat.